Market To Be Back On A Gaining Mood

The market is awaiting the Challenger Job-Cut report and Jobless Claims for the week. Investors are keen on the developments after President Trump’s recognition of Jerusalem as Israel’s capital, reversing decade-old U.S. policy. U.N. Security Council has called for an emergency session on Friday to discuss the issue.

The Market is back broadly on a recovery mood as the commodity prices and currency rates are showing improvement from the previous days.

Initial signs from the U.S. Futures suggest that Wall Street might open in the greener pastures on Thursday. Asian shares closed mostly higher, while European shares are trading higher.

As of 6.15 am ET, the Dow futures were slipping 1.00 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were gaining 21 points.

U.S. stocks closed mixed on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line.The Nasdaq rose 14.16 points or 0.2 percent to 6,776.38, the Dow dipped 39.73 points or 0.2 percent to 24,140.91 and the S&P 500 edged down 0.30 point or less than a tenth of a percent to 2,629.27.

On the economic front, the Challenger Job-Cut Report for November will be published at 7.30 am ET. The previous month’s announced layoffs were 29,831.

The Labor Department’s Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 240K, slightly up from 238K in the prior week.

New York Federal Reserve Bank President William Dudley will make welcome and introductory remarks at the “Higher Education Financing and Costs and Returns of Higher Education” event held by the Federal Reserve Bank of New York in New York at 8.30 am ET.

Three-year and ten-year Treasury Note auction and 30-year Bond auction will be held at 11.00 am ET.
The Fed Balance Sheet for the week will be released at 4.30 pm ET. The prior week level was $4.439 trillion.

The Fed’s Money Supply for the week is expected at 4.30 pm ET. The M2 weekly change was a deficit of $3.9…

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